<span>Allocative efficiency is the state of the economy in which production suits consumer needs and preferences. Every good or service produced holds value. Even the last unit is able to serve the customer and satisfy them, but the product must also maintain an equal balance between cost effectiveness and user satisfaction.</span>
Answer:
Project manager
Explanation:
A project manager is responsible for coordinating activities that have a particular scope and defined ending or goal.
The project manager usually does not directly work on the project, but coordinates activities of various departments, making sure the project is on track at every stage.
He is responsible for conveying the goals and objectives of the undertaking.
In this instance, the manager takes on the role of project manager by successfully working with several people to raise $500,000.
Answer: Option (d) is correct.
Explanation:
Contribution margin = Fixed cost + Pretax Income
= $1,296,000 + $1,656,000
= $2,952,000
Variable cost = Sales - Contribution margin
= (360,000 units × $19.80 per unit) - $2,952,000
= $7,128,000 - $2,952,000
= $4,176,000
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Answer:
Today, the existing communist states in the world are in China, Cuba, Laos and Vietnam. These communist states often do not claim to have achieved socialism or communism in their countries, but to be building and working toward the establishment of socialism in their countries.
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Answer:
c. will earn zero economic profits but positive accounting profits.
Explanation:
In a competitive industry, there are many buyers and sellers of homogenous goods and services. There are also low barriers to entry and exit of firms. In the short run, if a firm is earning economic profit, new firms enter into the industry and drive economic profit to zero. Thus, in the long run, a firm only earns accounting profit.
Accounting profit is total revenue less total cost or explicit cost.
Economic profit is accounting profit less implicit cost or opportunity cost.
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